To the highest bidder…
The upcoming auction of 10 units in a deluxe Back Bay complex – with minimum bids topping $1 million – is being widely watched by developers and brokers to see whether the aggressive strategy spurs or depresses sales in the city’s ritziest neighborhoods.
Accelerated Marketing Partners on Oct. 17 will auction 10 units of the Bryant Back Bay, a 50-unit condominium complex on Columbus Avenue that borders the Back Bay and the South End, for prices starting at $1.075 million. The condos are being offered at about half the typical asking price but are expected to sell for higher than the minimum.
The success of the auction – the first in a high-end building in the Back Bay in decades – could determine whether other developers of full-service luxury buildings, like the Clarendon, Battery Wharf, and 45 Province, follow its lead, some housing specialists say.
Read more: Boston Globe